For china . The bond market is ebbing. Fed signal a letter ate . Flattter r matt we see the ftsi as the as futuresner as far are concerned. The dax little changed and the cap pointing to a slight gain,. 1 of 1 . As far as the bund tray goes, investors continue to buy bunds, slashing down the yield. Maybe it is a risk off kind of day. Yields going down, prices going up, that seems to indicate that the reflation trade is fading and animal spirits may be back in their box. Nothing is happening at least in the first couple of columns. You see all that great theyre telling you you are not getting a lot of movement. Switzerland not doing anything, british pound, not on the move. The rc is on the move. Youre not seeing a great deal of action in the form the exchange market. It feels like markets are little asleep today. Where we are seeing action is the commodity space. Youre seeing a better big command to the oil trade. Bid coming into the oil trade. Rent crude trading up by around. 6 of 1 .
Fisher sounded more cautious on tuesday. More voices being added to the flurry. Yields continue to rise today. We have seen the biggest selloff since june in terms of treasury. Alix the yield rally some most since november. Ofaking of the diversion years, Charlie Evans speaking, saying we do not need to hike rates. Eric rosengren saying we can normalize rates. We are nearing our mandates. Federal confusion. Caroline that is going to be our phrase today. Coming up, we will speak about the direction of yields with matthew. Managinggan stanleys director and strategic. He says by the fiveyear the fiveyearbuy treasuries, despite losses. Alix a lot on hold heading into jobs friday. If any action, it will be in the currency market. The dollar is mushy across the board. The pound is higher, moving against the dollar. The yen moving lower. The yen is looking at its first monthly decline versus the dollar since may. Is relative mushiness across the board. Banks doing well in europe. Into the job
Francine welcome to the pulse. Live from bloombergs European Headquarters. First thing is first. Lets check on the markets. This is the picture. A huge scoop from Bloomberg News on what theresa may will are want to do with the city of london. She is refusing to prioritize brexit talks. Lets show you where the pound is. It is falling to the lowest against the dollar since 1985. We have had concern for some of the oil stocks. Markets, we dont have them. Lets get to the bloomberg first word news with nejra cehic. The cleveland fed president says a compelling case for the u. S. To raise rates. She was one of three officials who wanted to hike last month. She repeated her views that the feds november meeting should be considered a live test should be considered live should be considered live for a Rate Decision. T i want to be consistent i want to be consistent with our to medications. With our communications. If we wait until we see the inflation get back to your goal, then there is a high
The eu wants to fasttrack asylum decisions in greece and the wants of turkey. They are throwing another 3. 4 billion, but it has watered down earlier assurances for turkey to join the eu. Dilmaters are angry that rousseff has added luiz inacio da dilva to her cabinet. Turning to the ncaa tournament, how many haveder entered in our bloomberg brackets. Has comes the ivy league. Yale upset baylor. It is their first appearance in the tournament since 1962. We saw a mixed session. The shanghai capping off its best week in june. Month, the 10 year , stocks bouncing around a little bit. Oil prices had been putting pressure on Energy Producers in europe. Taking a u. S. Feet taking a it means. S. Futures, that we are now year today positive. This is the fastest recovery we have seen at the beginning of a year according to bloomberg data. There is a lot of debate over whether it is justified. Pound weakness as well. Not much change in the dollar versus the yen. We have been have a ring of this l
Should work on a clear path forward to provide reassurance about potential market distortions or risk from the latest stimulus effort. The yuan headed for the biggest two day gain in a month. The move came after a decline in the dollar that saw the bloomberg dollar index fall 1. 1 25 month low on thursday. That extends the fall after the Federal Reserve scaled back its forecast for Interest Rate increases this year. In brazil, a judge issued an thenction suspending presidency chief of staff. That is as congress restarted the impeachment process. Antigovernment protests continued overnight intima brazils biggest cities. In some of brazils biggest cities. Anna thank you very much. Now lets get into our chart for the hour. Guy johnson joins us with the chart. Guy it was over there. Anna it was there . Manus i apologize. [laughter] manus this is live tv. Anna something about the dax. Guy it is rallying. But we will see today is the running out of steam of the postfed rally. This is the cha